In this article, we discuss 5 richest countries in Asia. If you want to see more of the top richest countries in the region, check out 21 Richest Countries in Asia.
5. Taiwan
Total Wealth in 2021: $5,878 bn
Taiwan is situated in East Asia and it is one of the most densely populated nations globally. Taiwan holds the status of a developed country, with its economy primarily centered around export-oriented industries such as steel, machinery, electronics, and chemical manufacturing. It achieves commendable rankings in areas of civil liberties, healthcare, and human development. Taiwan is one of the richest Asian countries, with total wealth in 2021 amounting to $5.878 trillion.
4. South Korea
Total Wealth in 2021: $10,149 bn
South Korea, officially known as the Republic of Korea, is an East Asian country that holds the status of a regional power and is a developed nation. South Korea has gained international recognition for its influential popular culture, encompassing music (K-pop), TV dramas (K-dramas), and cinema, commonly known as the Korean Wave. The country actively participates in international organizations, including the OECD’s Development Assistance Committee, the G20, the IPEF, and the Paris Club. In 2021, South Korea’s total wealth came in at $10.149 trillion.
3. India
Total Wealth in 2021: $14,225 bn
India, officially referred to as the Republic of India, is located in South Asia. Since 1950, India has functioned as a federal republic, governed by a democratic parliamentary system. The country is characterized by its pluralistic nature, with a diverse society encompassing multiple languages and ethnicities. India holds the status of a nuclear-weapon state and invests significantly in its military expenditure. Additionally, Indian movies, music, and spiritual teachings have gained prominence and exert an increasingly influential role in global culture. In 2021, India ranked as one of the richest countries in Asia, with total wealth of $14.225 trillion.
2. Japan
Total Wealth in 2021: $25,692 bn
Japan, located in East Asia, is an island nation with Tokyo serving as its capital and largest city. It holds the status of a developed country and is recognized as a significant global power. Renowned for its advancements in automotive, robotics, and electronics industries, Japan has made prominent contributions to the fields of science and technology. The country actively participates in major international and intergovernmental institutions. Additionally, Japan is considered a cultural superpower due to its globally recognized art, cuisine, film, music, and popular culture. Notably, the country boasts influential manga, anime, and video game industries. In 2021, Japan’s total wealth in 2021 came in at $25.692 trillion, making it one of the richest Asian countries.
1. China
Total Wealth in 2021: $85,107 bn
China, known officially as the People’s Republic of China, is situated in East Asia. Beijing serves as the national capital, while Shanghai stands as the most populous city and largest financial center. China is recognized as one of the rapidly growing major economies globally, holding the title of the world’s largest manufacturer and exporter. Additionally, it holds a significant position as a major importer. As a nuclear-weapon state, China boasts the world’s biggest standing army in terms of military personnel and allocates a substantial budget for defense purposes. In 2021, China was the wealthiest Asian country.
Amendment: A previous version of this article mentioned incorrect units for wealth figures. The article was updated and corrected at 5:07 PM ET on June 7, 2023
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